Bloomberg News

Singapore Stocks: Otto Marine, Singapore Post, SMRT, Wilmar

October 31, 2011

Oct. 31 (Bloomberg) -- Singapore’s Straits Times Index fell 1.7 percent to 2,855.77 at the close, its first decline in six days. Almost four stocks dropped for each that rose in the index of 30 companies. The gauge advanced 6.8 percent this month, the most since July 2009.

The following shares were among the most active in the market. Stock symbols are in parentheses after the company names.

Otto Marine Ltd. (OTML SP) declined 3.6 percent to 13.4 Singapore cents. The shipbuilder said it expects to report a third-quarter loss because of volatility in the currency market and lower revenue from unit Reflect Geophysical Pte., which operates ships that seek oil and gas under the sea floor.

Singapore Post Ltd. (SPOST), operator of the city’s postal services, slipped 2.4 percent to S$1.025. The company said second-quarter net income declined 23 percent to S$30.6 million ($24.6 million) from a year earlier.

SMRT Corp. (MRT SP), the biggest commuter-train operator in the city-state, decreased 2.7 percent to S$1.84. The company said second-quarter net income fell 26 percent to S$34.1 million from a year earlier.

Wilmar International Ltd. (WIL SP), the world’s largest palm-oil processor, gained 1.3 percent to S$5.47. The company said it increased the size of a syndicated term loan facility announced in November to $1.5 billion from $1.3 billion

--Editor: Nick Gentle, Jason Clenfield, Jim Powell.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle in Hong Kong at ngentle2@bloomberg.net


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